BCH reached my target of 312$ and started a bounce. I made this prediction at 440$! You can read my last prediction here:

https://steemit.com/bch/@ew-and-patterns/bch-could-reach-312usd-again-watch-this

The low was actually exactly 300$. The bounce hit 470 $ which equals a 56.66% increase from the low!

The next move of BCH highly depends on what BTC will do next. They are running parallel right now. I don't like this, but that is the way it is for now:

I am still short BTC and I monitor it closely every hour until I can trade again at 23 pm (UTC+2). At this point I will decide if I close the trade with a small profit or loss, or if it has started going down again, I will keep the trade with a traget of at least 3100$.

BCH is at the exact same point right now, it can go much higher or down again. If the current high of this bounce is breached (470$), a new upmove is more probable. But if not it's going down, which is what I am hoping for (obviously).

If you think this to be useful information:

DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post.
If you make any trades after reading this post it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

Tell me what you think...

Have a nice day :-)